Report : North America Cold Storage Sandwich Panels with Polyurethane Core Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Wall Panel, Roof Panel and Others) and End-User ( Residential, Commercial and Industrial)
Rising Investment in Cold Storage Facilitiesis going to Escalate Cold Storage Sandwich Panels with Polyurethane Core Market Growth During 2021–2028
According to our latest market study on “Cold Storage Sandwich Panels With Polyurethane Core Market Forecast to 2028 – COVID-19 Impact and Analysis – By Type (Loose Flap, Bottom Gusset, Side Gusset, and Others), and Application (Food, Pharmaceuticals, Personal Care and Cosmetic Products, Industrial Goods, and Others)” the market was valued at US$ 941.40 million in 2020 and is projected to reach US$ 1,345.83 million by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Sandwich panels are used for building walls and roofs cold storage and for building enclosures of industrial cold storage devices, air conditioning devices, etc. Such panels are manufactured in a continuous process of joining the insulating core with external lining, most often metal plates. The final product is a sandwich panel consisted of several layers. Metal lining protects against weather conditions, such as rain or snow and performs decorative function. These panels are also resistant to corrosive factors. They keep their parameters when exposed to moisture, steam, snow, chemicals, or other difficult conditions. The core, made of polyurethane foam when joined with the lining, it becomes a barrier protecting against fire, wind, snow load, temperature, and other factors.
Cold storage plays a significant role in maintaining the shelf life of perishable and edible items and are significantly installed across diverse industrial sectors, such as food & beverages, pharmaceuticals, and chemicals. In recent years, an increase in investment in cold storage facilities have been witnessed, which is attributable to factors such as rise in sales of online grocery, coupled with growing consumer preferences toward fresh and perishable goods, and surging demand for pharmaceutical products that require specialized storage facilities. Further, the COVID-19 pandemic has triggered the growth of the industry by motivating the food & beverage and pharmaceutical producers to abandon just-in-time inventory models and incorporate the use of advanced cold storage in their current work operations. Several research studies predict the expanding investment in cold storage facilities across North America. For instance, as per a study published by grocery e-commerce specialist Mercatus and research institutes in the US, online grocery shopping is expected to increase by more than two folds, i.e., 21.5%, by 2025. Further, as per research conducted by Coldwell Banker Richard Ellis (CBRE) in 2019, the owners and operators of cold-storage warehouses in the US may witness an annual growth of 4% from 2019 to 2022. The reports further state that a shift in consumer behavior is expected to lure better growth opportunities. CBRE also estimates that the demand for cold storage facilities is anticipated to rise by 100 million sq.ft within five years, which would roughly account for 47% increment from the current level of 214 million sq.ft in cold storage facilities. The report states that the growth of cold-storage sectors could be witnessed across areas such as Los Angeles and New York, as well as in top food-producing states such as Texas, Florida, California, Wisconsin, and Washington state. Hence, it is quite evitable that all these factors may proliferate the demand for cold storage facilities. Additionally, the growing focus toward advanced cold storage facilities would generate the need for advanced insulated panels for thermal regulation such as sandwich panels made up of polyurethane. Therefore, the increase in investment in cold storage facilities has a direct impact upon the demand for sandwich panels made of polyurethane.
Balex-Metal; BRUCHA Gesellschaft m.b.H.; Metl-Span; Coldmatic; APT Industries; Innovative Composite Products, Inc; Insta-Insulation; Enerpan Building Systems Ltd; and BRDECO Group are among the well-established players operating in the cold storage sandwich panels with polyurethane core market.
Impact of COVID-19 Pandemic on Cold Storage Sandwich Panels with Polyurethane Core Market
The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals and materials industry are one of the major industries suffering serious disruptions such as supply chain breaks and shutdowns of production plants due to the COVID-19 outbreak. The shutdown of various manufacturing plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa has adversely affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Further, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are affecting business collaborations and partnerships opportunities. All these factors are anticipated to affect the chemicals and materials industry negatively, thus act as a restraining factor for the growth of various markets related to this industry in the coming months. The market for cold storage sandwich panels with polyurethane core have been impacted due to ineffective supply of raw materials such as polyurethane along with a significant impact upon the production processes. However, the market has also witnessed significant investment in cold storage facilities with the rapid rise in the retail industry along with a growing focus toward fresh and healthy food, which is expected to provide growth opportunities for polyurethane-based cold storage sandwich panels in the North America market.
The “North America Cold Storage Sandwich Panels with Polyurethane Core Market Analysis to 2028” is a specialized and in-depth study of the chemicals and materials industry with a special focus on the North America market trend analysis. The report aims to provide an overview of the cold storage sandwich panels with polyurethane core market with detailed market segmentation by type and application. Based on type the market is segmented into loose flap, bottom gusset, side gusset, and others. Based on application, the market is segmented into food, pharmaceuticals, personal care and cosmetic products, industrial goods, and others.
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